We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
 Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, fertiliser producers and consumer goods companies, Fitch Ratings says. Smaller companies in these industries are under the most pressure, while larger and more diversified issuers rated by Fitch are better positioned to mitigate the impact. Gas prices could remain high until the end of the winter heating season, given low levels of natural gas in European storage facilities. However, we expect prices to moderate once seasonal demand reduces.
High gas prices and working capital fluctuations have already caused several non-integrated UK gas suppliers (not rated by Fitch) to ask for state support in fulfilling their supply obligations to customers.
The Spanish government has introduced a levy on low-carbon power producers to support smaller suppliers.
Supply is typically a small part of larger Fitch-rated integrated utilities in Europe, which are able to pass costs on to most customer groups, or hedge. Although we expect higher gas prices to increase regulatory risks, the rated utilities’ diversification by jurisdiction and business line, including electricity production and distribution networks, cushions the impact. The unfolding situation in the European gas market may further accelerate the energy transition in the utility sector towards renewables.
Fertiliser producers have been severely affected by rising gas prices. Gas is a key input in ammonia production, which is further used in urea and DAP production. Several ammonia plants in Europe have cut their output or have temporarily shut down operations. Larger Fitch-rated fertiliser producers with a global presence are able to continue production in other regions or source ammonia from third parties, limiting the impact. Producers may also seek to increase fertiliser prices to pass costs onto consumers.
Agriculture and food producers are affected by challenges in the fertiliser sector. Agribusinesses may face shortages in fertiliser supplies and increased prices, most likely increasing their costs in the next season’s harvest. However, meat processors and carbonated drinks manufacturers, particularly in the UK, already face disruptions due to CO2 shortages, which is a by-product of ammonia manufacturing and is used in meat and fizzy drinks production. Geographically diversified food and beverages producers are better positioned to mitigate such shortages.
The record-high prices in Europe are driven by increased demand (due to the wider economic recovery and weather-related factors), competition with Asia for LNG, and a limited supply response from Gazprom, Europe’s largest supplier, providing about a third of Europe’s gas. Prices have also risen due to market fears of a gas deficit during the winter heating season due to low European storage utilisation compared to previous years.
Utilisation at Gazprom-linked storage facilities (around 10% of European capacity) is particularly low, affecting average utilisation rates in Austria, Germany and the Netherlands. Furthermore, unlike September in recent years, Gazprom has not offered any meaningful volumes for delivery this or next year via its electronic sales platform (a sales channel for short-term gas deliveries, used in addition to sales under long-term contracts). Gazprom’s total exports should increase in 2021 but this is unlikely to be sufficient to re-balance the market. Starting the new Nord Stream 2 pipeline, which is facing difficulties in obtaining necessary approvals from regulators in Europe, may affect the availability of additional gas volumes.
We have recently increased our short-term gas price assumptions. However, we expect a normalisation of demand and potential additional supplies to result in a return to mid-cycle pricing from 2023.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
|
|
|
Showing 566 to 570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Australian Coal Association
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
|
| |
| |
|
